TRANSACTION LIMITATIONS

Limits on monthly transactions for certain accounts

Transaction Limitations

Learn about transaction limitations for certain accounts.

All Advantis savings, money market, IRA savings, and deferred compensation accounts have transaction limits. We enforce these limitations to ensure that these accounts are considered “non-transaction” accounts under Federal regulation. The government requires that we establish reserve accounts based on funds on deposit in "transaction" accounts (such as checking), but there is no such requirement for "non-transaction" accounts. Money not held in reserve accounts can be better invested—primarily in loans to members. To qualify as a "non-transaction" account, we must limit out-bound transfers and withdrawals to no more than six per month. But not all transfers and withdrawals count toward the six-transfer limit.

Transfers or withdrawals that count against the six-transfer limit include:

Checks

Debits

ACH transfers

Telephone withdrawals and transfers

Transfers made via on-line banking

Transfers to other deposit accounts at the credit union (such as a transfer to cover an overdraft)

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